Description

South Carolina February 8, 1779 $40 PCGS Apparent Extremely Fine
45.
An exceptionally nice example of this lowest and toughest
denomination from the issue. The original issue contained only $40,
$60, $80 and $100 notes, and those are the elusive denominations.
The $50, $70 and $90 denominations were added later, and these are
the ones that are most often seen. Of the first issue, the $40 was
the shortest printing, with only 2000 notes produced. This is #1070
of the 2000. The note is bright and pleasing, with some margin all
the way around, although the borders are quite tight to the frame
line. The back design is sharply printed and very well centered;
the engraving is one of the most elaborate on Colonial Currency. It
was executed by Thomas Coram of Charleston. Coram signed the backs
of the three later-issue denominations, with the $40, $60, $80 and
$100 notes' being unsigned, although they are Coram's work. The
note gives the appearance of an uncirculated piece, but very close
inspection reveals a single light center fold and two tip folds. An
impressive note that belongs in a top-quality collection. The PCGS
grade of 45 seems conservative to us and the repairs mentioned are
extremely minor.From the Kings Mountain Collection